Home Buying Requirements: Financial stability Down payment of 3-20% Mortgage pre-approval Home inspection advised Homeowners insurance Florida home buying facts: No state income tax Homebuyer assistance programs Vacation rentals Flood insurance recommended...
Total Miami-Dade sales ↓ 4.6% in October 2023, with the statistics not including South Florida's new construction market. Total new listings in Miami ↑ 10.5% yearly in October 2023, from 3.2K to 3.5K. Total active listings ↑ 0.1% yearly to 10.8K, but inventory remains down 46.8% from the historical avg....
Florida's Live Local Act provides tax benefits for affordable housing. Exemptions range from 75% to 100% based on rent restrictions. Eligible properties must be newly constructed with at least 71 units....
Discover your dream home in the Mainlands of Tamarac Lakes 6, a vibrant 55+ community. This stunning 2/2 single-family home offers modern comfort and style across 1,258 sq ft of elegantly updated living space. It features vinyl wood flooring throughout and beautifully tiled bathrooms. The kitchen, the heart of the home, is equipped with sleek Silestone countertops...
Lenders analyze Debt-To-Income Ratio (DTI) to assess default risk; high DTI may hinder mortgage approval. High DTI indicates a smaller income cushion, impacting financial stability and potential hardships. Maintaining a lower DTI ratio eases mortgage handling, crucial for comfortable financial management....
Miami Beach has become a prominent hotspot for wealthy buyers, especially billionaires, contributing to an increase in Real Estate prices.Miami Beach is witnessing increased Real Estate prices despite a 3% decrease in the number of sales. However, the value of sales ↑ 62% due to more high-ticket transactions....
Florida is a popular destination for real estate investors due to its fast-growing tourism industry and fluctuating land values. Buying land and waiting for property prices to rise can be a profitable investment. However, it is important to research the region, seller, and property services before making a purchase. Working with an experienced sales associate and reviewing the long-term land-use plan can...
Florida faces a property insurance crisis, and the potential for substantial legislative changes is uncertain. The Office of Insurance Regulation (OIR) has upcoming legislative recommendations to address certain issues....
The CARES Act, responding to COVID-19, implemented a moratorium on foreclosures and provided forbearance for federally-backed mortgages.Mortgage loans constitute ~70% of total US household debt, surpassing $12T, reflecting the significant role of housing in the economy....
New listings deficit narrows to ↓ 1.2% yearly in October, signaling a recovery from the severe shortage. Despite mortgage rates hitting 8%, competition remains strong, with listings selling in 16 days on avg. Monthly mortgage payments ↑ >4% MoM, driven by the 23-yr high rates....
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